The company moved 8.58 million shares at $15 apiece, exceeding its initial roadmap of 7.15 million shares priced between $13 and $15. This strategic increase reflects strong demand for the clinical-stage developer as it prepares for its first day of public trading under the ticker symbol SCTX. The shares are scheduled to begin changing hands on Friday, marking a significant entry for the California-based biotech into the public markets.
Scribe Therapeutics Prices Upsized IPO at $128.7 Million
Investors pushed the clinical-stage biotech firm Scribe Therapeutics to the top of its valuation range, as the Alameda-based company finalized an upsized initial public offering late Thursday. By expanding the share count, the firm secured $128.7 million in capital ahead of its debut on the Nasdaq Global Market.
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